XRP users can now delete their wallets on the XRP network if they so choose, an update that was implemented after the majority of the community voted in favor of the change.
“After 80% consensus was maintained during the mandatory 15-day voting period, The change in XRPL switch accounts was activated on May 8, 2020 at 4:29:30 UTC, through general ledger 55,313,921, “said former manager of the XRP center, Arturo Portilla, in one Tweet 8th of May.
Users can delete accounts in the general ledger
Ripples XRP runs in a distributed ledger. “An account in the XRP ledger represents an XRP holder and a transaction sender”, notes XRPL.org.
The XRPL blog announced the upcoming feature in a post on May 6th. However, only the owner of an account can delete itbecause you have to send a transaction from the account to delete it, “the publication explains.
Deleting a wallet means that the account no longer exists in the current XRP ledger, even though the ledger’s unchanged history continues to show the activity of the past walletsaid the post. However, if you send 20 XRP or more to an old wallet, the dead account will be revived. Anyone can do this, but the wallet’s private keys are still required to manage the wallet.
The update is in progress
The update can now be won and leads to the first termination of the account, as in the Tweets from Portilla. Deleting an account also allows owners to restore XRP that is on old accounts, since a minimum credit of 20 XRP is required for each wallet, describes the XRP article.
“For the first time in history, an XRPL account was removed,” the tweet said. Portilla added: “20 reserved XRPs have been released, 15 XRPs have been restored, and 5 XRPs have been burned as a transaction fee (as expected).”
XRP users now have two wallet options: “Erasable Accounts” and “Non-Erasable Accounts”. from the update, he said Porthole. It was also determined that the accounts contained in certain functions, such as B. Security deposits fall into the non-erasable wallet category.
The XRP update also contained other details, e.g. B. Changes to the Ledger XRP problem.
Although Ripple and XRP continue to advance, the coin is still out of the woods regarding violations of the Securities Act. Ripple faced another lawsuit this week claiming XRP was an unregistered value.